2022 年半年度报告 公司代码：603867 公司简称：新化股份 浙江新化化工股份有限公司 2022 年半年度报告 1 / 153 2022 年半年度报告 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 不适用 十、 重大风险提示 六、 前瞻性陈述的风险声明 七、 是否存在被控股股东及其关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况？ 重要提示 否 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 第一节 释义 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确性、 完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人胡健、主管会计工作负责人洪益琴及会计机构负责人（会计主管人员）洪益琴声 明：保证半年度报告中财务报告的真实、准确、完整。 √适用 □不适用 本报告所涉及的公司未来计划等前瞻性陈述，不构成公司对任何投资者及相关人士的实质承 诺，敬请广大投资者注意投资风险。 | 第一节 | 释 ...

Financial Performance - The company's operating revenue for Q1 2022 was CNY 713,846,960.37, representing a year-on-year increase of 5.95%[5] - Net profit attributable to shareholders was CNY 100,443,113.27, reflecting a significant increase of 77.14% compared to the same period last year[5] - The basic earnings per share (EPS) for the period was CNY 0.71, up by 73.17% year-on-year[6] - The diluted EPS also stood at CNY 0.71, marking a 77.50% increase from the previous year[6] - The weighted average return on equity (ROE) increased by 2.16 percentage points to 5.88%[6] - Total operating revenue for Q1 2022 was ¥713.85 million, a 5.9% increase from ¥673.73 million in Q1 2021[19] - Net profit for Q1 2022 reached ¥107.43 million, representing a 75.6% increase compared to ¥61.25 million in Q1 2021[20] - Earnings per share for Q1 2022 were ¥0.71, up from ¥0.41 in Q1 2021[20] - Total comprehensive income for Q1 2022 was CNY 75,983,270.37, compared to CNY 29,622,714.88 in Q1 2021, indicating a significant increase[31] Cash Flow - The net cash flow from operating activities was CNY 38,876,621.23, with no applicable year-on-year comparison[5] - Cash flow from operating activities generated a net inflow of ¥38.88 million, a significant improvement from a net outflow of ¥64.81 million in Q1 2021[23] - Net cash flow from operating activities was CNY -951,049.53 in Q1 2022, an improvement from CNY -90,501,765.53 in Q1 2021[31] - Cash inflow from operating activities totaled CNY 298,758,893.78, up from CNY 284,882,248.91 in the same period last year[31] - Cash outflow from operating activities decreased to CNY 299,709,943.31 from CNY 375,384,014.44 year-over-year[31] - The company reported a net cash outflow from investing activities of CNY -238.22 million, mainly due to increased cash payments for fixed asset purchases and financial product investments[9] - Investment activities resulted in a net cash outflow of ¥166.33 million in Q1 2022, compared to a net inflow of ¥120.34 million in Q1 2021[24] - Net cash flow from investing activities was CNY -89,807,255.63 in Q1 2022, compared to CNY 128,331,445.04 in Q1 2021[32] - Net cash flow from financing activities was CNY 7,856,496.22, a turnaround from CNY -12,867.74 in Q1 2021[32] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,838,478,254.99, a slight increase of 0.90% from the end of the previous year[6] - As of March 31, 2022, the total assets of the company amounted to CNY 2,838,478,254.99, an increase from CNY 2,813,210,389.49 at the end of 2021[17] - The company's current assets totaled CNY 1,562,074,033.80, slightly down from CNY 1,578,117,271.76 at the end of 2021[15] - The total liabilities decreased to CNY 968,205,530.25 from CNY 1,058,409,347.89, indicating a reduction of approximately 8.5%[17] - The company's equity attributable to shareholders rose to CNY 1,763,740,736.56 from CNY 1,655,415,825.65, marking an increase of about 6.5%[17] - The total current liabilities amounted to CNY 755,735,891.47, down from CNY 879,525,547.98, a decrease of approximately 14%[17] - Long-term borrowings increased to CNY 58,019,010.71 from CNY 25,576,016.54, representing a growth of approximately 127%[17] - The total liabilities as of March 31, 2022, were CNY 621,071,870.63, down from CNY 679,147,204.66 at the end of 2021[28] Inventory and Expenses - The company reported a total inventory of CNY 312,334,025.75, slightly down from CNY 317,480,677.06[15] - Total operating costs decreased to ¥589.81 million, down 2.3% from ¥607.30 million in Q1 2021[19] - The company reported a decrease in operating costs to CNY 332,859,391.47 in Q1 2022 from CNY 380,025,849.83 in Q1 2021[30] - Research and development expenses for Q1 2022 were CNY 13,757,554.53, a slight increase from CNY 13,457,796.19 in Q1 2021[30] Future Outlook - The company’s management indicated plans for market expansion and new product development in the upcoming quarters[19]

Financial Performance - The company's operating revenue for 2021 was RMB 2,554,823,933.93, representing a 10.07% increase compared to RMB 2,321,141,381.90 in 2020[24]. - The net profit attributable to shareholders of the listed company decreased by 4.25% to RMB 196,817,553.70 from RMB 205,547,882.93 in the previous year[24]. - The total assets of the company increased by 10.82% to RMB 2,813,210,389.49 at the end of 2021, up from RMB 2,538,560,985.17 at the end of 2020[24]. - The net cash flow from operating activities decreased by 42.24% to RMB 55,048,546.59 in 2021, compared to RMB 95,306,728.48 in 2020[24]. - The company's net assets attributable to shareholders increased by 10.78% to RMB 1,655,415,825.65 at the end of 2021, compared to RMB 1,494,272,847.43 at the end of 2020[24]. - Basic earnings per share decreased by 4.76% to CNY 1.40 in 2021 compared to CNY 1.47 in 2020[25]. - The weighted average return on equity fell to 12.63% in 2021, down from 14.52% in 2020, a decrease of 1.89 percentage points[25]. - The net profit after deducting non-recurring gains and losses was CNY 180.62 million, showing a slight increase of 0.26% year-on-year[44]. Revenue and Sales - Total operating revenue for Q1 2021 was CNY 673.73 million, while Q4 2021 saw an increase to CNY 677.10 million[28]. - Net profit attributable to shareholders for Q4 2021 was CNY 86.93 million, showing a significant increase compared to CNY 12.67 million in Q3 2021[28]. - The revenue from fatty amines reached approximately ¥1.34 billion, with a gross profit margin of 17.41%, reflecting an increase of 2.05 percentage points year-on-year[50]. - Domestic sales accounted for approximately ¥1.78 billion, with a gross profit margin of 19.09%, reflecting a year-on-year increase[50]. - The production volume of fatty amines was 107,439 tons, with a sales volume of 106,781 tons, indicating a year-on-year increase of 3.20% in sales[52]. Investments and Projects - The company initiated the construction of a new 2,000 tons/year halogen-free organic flame retardant project, which has begun stable production[33]. - The synthetic ammonia project with a capacity of 40,000 tons/year has completed equipment installation and is in the trial production preparation phase[33]. - The company is actively investing in projects such as the construction of a synthetic fragrance production base with a capacity of 74,650 tons/year and a new coal gasification technology project[62]. - The company’s investment in hazardous waste treatment has led to the establishment of a project with a capacity of 58,100 tons/year for waste acid and 11,600 tons/year for waste alkali[36]. Operational Challenges - The company faced challenges in 2021 due to rising raw material prices and energy control policies, impacting operational rates and profitability[34]. - Operating costs rose by 14.24% year-on-year, influenced by increased sales volumes and fluctuations in raw material prices, as well as energy consumption control policies[48]. - The company experienced a decrease in foreign sales revenue by 16.21%, with a gross profit margin of 15.70%[50]. Research and Development - The company invested 80.99 million yuan in R&D during the reporting period, completing over 100 projects related to new product development and process improvements[78]. - The company applied for 14 invention patents and 1 utility model patent, receiving 5 invention patents and 14 utility model patents during the reporting period[79]. - The company is focusing on the development of new chemical materials and technologies to enhance its competitive edge in the market[66]. Corporate Governance - The company held three shareholder meetings during the reporting period, with all resolutions passed and no rejected proposals[106]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period was 8.0825 million yuan[114]. - The company has maintained a stable governance structure with no significant changes in the management team during the reporting period[116]. - The company’s board meetings were conducted regularly, reflecting a commitment to corporate governance and transparency[117]. Environmental Responsibility - The company is classified as a key pollutant discharge unit and has reported its wastewater discharge standards, including a CODCr concentration of 151.59 mg/L, which is within the regulatory limits[140]. - The company has implemented pollution control facilities in accordance with environmental impact assessments, including wastewater and air pollution treatment systems[145]. - The company has achieved compliance with air emission standards through various treatment processes, including SNCR denitrification and bag dust collection for boiler emissions[146]. - The company actively engages in environmental pollution liability insurance to enhance its environmental risk management capabilities[163]. Shareholder Commitments - Shareholders holding over 5% of shares have committed to not transferring or managing their shares for 36 months post-IPO, ensuring stability[168]. - Major shareholders have issued commitments to avoid any business competition with the company, safeguarding shareholder interests[170]. - The company has established measures to minimize related party transactions, ensuring fair treatment of all shareholders[172].

Financial Performance - The company's operating revenue for Q3 2021 was ¥548,665,124.99, a decrease of 10.73% compared to the same period last year[5] - The net profit attributable to shareholders for Q3 2021 was ¥12,669,235.13, down 60.65% year-on-year[5] - The basic earnings per share for Q3 2021 was ¥0.09, reflecting a decline of 60.87% compared to the previous year[6] - Net profit for the third quarter of 2021 was ¥121,639,791.89, a decrease from ¥167,449,261.62 in the same quarter of 2020, reflecting a decline of approximately 27.4%[21] - Earnings per share for the third quarter of 2021 were ¥0.78, down from ¥1.12 in the same quarter of 2020, showing a decrease of about 30.4%[22] Assets and Liabilities - The total assets at the end of Q3 2021 amounted to ¥2,681,227,407.82, representing a 5.62% increase from the end of the previous year[6] - Total assets amount to ¥2,681,227,407.82, compared to ¥2,538,560,985.17 at the end of 2020[16] - Total liabilities are reported at ¥878,921,197.54, an increase from ¥828,409,480.62 in the previous year[16] - The total liabilities as of the end of the third quarter of 2021 were ¥1,040,675,659.49, compared to ¥948,991,326.00 at the end of the previous year, representing an increase of approximately 9.7%[20] Cash Flow - The company's cash flow from operating activities showed a net outflow of ¥10,093,006.82 for the year-to-date, indicating a significant decrease of 106.77%[6] - The net cash flow from operating activities was -$10,093,006.82, a significant decrease compared to $148,980,551.32 in the same quarter last year[24] - Cash inflow from operating activities for the first three quarters of 2021 was ¥1,681,829,288.69, compared to ¥1,406,146,822.43 in 2020, marking an increase of approximately 19.5%[23] - The total cash outflow from operating activities was $1,691,922,295.51, compared to $1,257,166,271.11 in the same quarter last year[24] Shareholder Information - Total number of common shareholders at the end of the reporting period is 15,972[12] - The largest shareholder, JianDe State-owned Assets Management Co., holds 24,114,101 shares, representing 17.1% of total shares[12] - The company has a total of 2,000,048 unrestricted circulating shares held by Jiangsu Yin Yi Ba Investment Management Co., representing 1.42%[13] Investment and Income - The company’s investment income decreased by 53.98%, mainly due to a reduction in the amount invested in financial products[9] - The company reported a decrease in investment income, which was ¥6,783,660.79 for the third quarter of 2021, down from ¥14,739,162.14 in the same quarter of 2020, indicating a decline of approximately 54.0%[20] - The company experienced a 53.72% decrease in trading financial assets, attributed to a reduction in purchased financial products during the period[9] Research and Development - Research and development expenses for the third quarter of 2021 amounted to ¥63,647,719.29, up from ¥50,847,931.32 in the same quarter of 2020, indicating an increase of about 25.2%[20] Other Financial Metrics - The company has reported a total of 1,187,718,461.51 in non-current assets, up from 1,018,041,058.94 in the previous year[16] - The company’s accounts receivable stand at ¥240,284,781.92, up from ¥217,018,551.02 in the previous year[15] - The company’s inventory is valued at ¥279,479,590.08, an increase from ¥248,217,952.50 in the previous year[15] - The company’s total equity attributable to shareholders increased by 3.26% to ¥1,543,055,802.83 compared to the end of the previous year[6] - Total operating costs for the first three quarters of 2021 were ¥1,751,664,837.13, up from ¥1,509,145,613.97 in 2020, indicating an increase of about 16.1%[20]

2021 年半年度报告 公司代码：603867 公司简称：新化股份 浙江新化化工股份有限公司 2021 年半年度报告 1 / 140 2021 年半年度报告 重要提示 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 否 十、 重大风险提示 本报告中对公司未来的经营展望，是公司根据当前的宏观经济政策、市场状况作出的预判和 计划，并不构成公司做出的业绩承诺，公司已在本报告中详细描述存在的风险因素，敬请查阅第 三节"管理层讨论与分析"中"五、其他披露事项"之"（一）可能面对的风险"部分的内容。 十一、 其他 √适用 □不适用 本报告所涉及的公司未来计划等前瞻性陈述，不构成公司对任何投资者及相关人士的实质承 诺，敬请广大投资者注意投资风险。 七、 是否存在被控股股东及其关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况？ 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 □适用 √不适用 2 / 140 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、完 整，不存在虚假记 ...

Financial Performance - Operating revenue surged by 91.09% to CNY 673,726,791.65 year-on-year[5] - Net profit attributable to shareholders increased by 177.96% to CNY 56,703,649.13 compared to the same period last year[5] - The net profit after deducting non-recurring gains and losses rose by 279.41% to CNY 48,295,697.42[5] - Basic earnings per share reached CNY 0.41, up 173.33% from CNY 0.15 in the previous year[5] - The company reported a significant increase in other income, which rose by 130.86% to ¥6,488,472.11 from ¥2,810,591.99, mainly due to increased government subsidies received[13] - Investment income decreased by 46.89% to ¥3,766,389.27 from ¥7,092,091.41, primarily due to reduced financial investment returns[13] - Net profit for Q1 2021 was ¥61,250,927.19, representing a 213.5% increase from ¥19,508,714.35 in Q1 2020[28] - Basic earnings per share for Q1 2021 were ¥0.41, compared to ¥0.15 in Q1 2020[28] - The total profit for Q1 2021 was CNY 33,052,272.16, which is a 3.4% increase from CNY 29,989,725.08 in Q1 2020[30] Assets and Liabilities - Total assets increased by 5.04% to CNY 2,666,626,910.18 compared to the end of the previous year[5] - The company's total liabilities increased to ¥1,026,411,726.11 from ¥948,991,326.00, indicating a rise in financial obligations[21] - The company's total equity reached ¥1,640,215,184.07, up from ¥1,589,569,659.17, reflecting retained earnings growth[21] - Total assets as of March 31, 2021, amounted to ¥2,102,424,776.55, an increase from ¥2,041,311,270.04 at the end of 2020[25] - Total liabilities as of March 31, 2021, were ¥678,777,687.79, compared to ¥649,554,251.86 at the end of 2020[25] - Current assets totaled ¥1,282,355,921.18 as of March 31, 2021, slightly up from ¥1,274,603,803.70 at the end of 2020[24] - Non-current assets increased to ¥820,068,855.37 as of March 31, 2021, from ¥766,707,466.34 at the end of 2020[24] Cash Flow - Cash flow from operating activities showed a negative net amount of CNY -64,809,725.48, worsening by 84.81% compared to the previous year[5] - The net cash flow from operating activities was negative at -¥64,809,725.48, worsening by 84.81% from -¥35,068,302.86, primarily due to decreased sales collections[14] - In Q1 2021, the net cash flow from operating activities was -90,501,765.53, compared to -43,192,905.88 in Q1 2020, indicating a decline in operational cash flow[36] - Cash inflow from operating activities totaled 284,882,248.91 in Q1 2021, compared to 220,727,361.77 in Q1 2020, marking an increase of about 29%[36] - The cash outflow for purchasing goods and services in Q1 2021 was 303,906,125.72, compared to 207,071,924.50 in Q1 2020, representing a rise of approximately 46.5%[36] Expenses - Operating costs increased by 92.16% to ¥549,195,533.73 from ¥285,806,934.39, mainly due to increased sales volume and rising raw material prices[13] - Research and development expenses rose by 109.54% to ¥21,921,733.13 from ¥10,461,810.77, reflecting increased investment in R&D[13] - Research and development expenses for Q1 2021 were ¥21,921,733.13, significantly higher than ¥10,461,810.77 in Q1 2020[27] - The company incurred financial expenses of CNY -368,106.24, a significant improvement from CNY -1,338,003.55 in the previous year[30] - The company’s sales expenses decreased to CNY 2,464,823.78, down 76.7% from CNY 10,576,740.76 in Q1 2020[30] - The company’s tax expenses for Q1 2021 were CNY 3,429,557.28, slightly down from CNY 3,739,538.44 in Q1 2020[30] Shareholder Information - The number of shareholders reached 15,176, indicating a growing interest in the company[8] - The weighted average return on net assets improved by 2.21 percentage points to 3.72%[5]

Financial Performance - The company's operating revenue for 2020 was CNY 2,321,141,381.90, representing a 35.11% increase compared to CNY 1,717,987,561.37 in 2019[23] - The net profit attributable to shareholders for 2020 was CNY 205,547,882.93, a 66.44% increase from CNY 123,495,088.09 in 2019[23] - The net profit after deducting non-recurring gains and losses was CNY 180,142,152.58, which is a 61.11% increase compared to CNY 111,813,173.99 in 2019[23] - The basic earnings per share for 2020 were CNY 1.47, a 45.54% increase from CNY 1.01 in 2019[24] - The basic earnings per share after deducting non-recurring gains and losses increased by 41.76% to 1.29 RMB compared to the previous year[25] - The weighted average return on equity rose by 3.04 percentage points to 14.52%[25] - Total revenue for the year reached ¥1,842,980,861.47, a 51.41% increase compared to the previous year[59] - The company reported a year-on-year increase of 37.76% in operating costs for the chemical industry segment[104] Cash Flow and Assets - The net cash flow from operating activities decreased by 59.56% to CNY 95,306,728.48 from CNY 235,645,271.30 in 2019[23] - The total assets at the end of 2020 were CNY 2,538,560,985.17, reflecting a 15.63% increase from CNY 2,195,478,165.97 at the end of 2019[23] - The net assets attributable to shareholders increased by 11.23% to CNY 1,494,272,847.43 from CNY 1,343,368,224.52 in 2019[23] - The accounts receivable balance grew by 88.35% to ¥217,018,551.02, indicating improved sales performance[68] Dividends and Shareholder Commitments - The company plans to distribute a cash dividend of CNY 4.5 per 10 shares, totaling CNY 63,405,000, subject to shareholder approval[5] - The company’s cash dividend distribution plan reflects a payout ratio of 30.89% of net profit for the year 2020[123] - Major shareholders and executives have committed not to transfer or manage their shares for 36 months post-IPO, with a maximum of 25% transfer allowed annually thereafter[128] Research and Development - The company’s R&D expenses increased by 45.48% to CNY 84,901,483.69, reflecting its commitment to innovation and technology development[51] - The company achieved a research and development investment of 84.9 million RMB, completing 68 projects related to new product trials, process improvements, and safety enhancements[92] - The number of R&D personnel was 118, making up 13.13% of the total workforce[64] Market and Product Development - The company aims to enhance its product offerings in fine chemicals, focusing on low-carbon fatty amines and organic solvents[35] - The company has the largest production capacity of isopropylamine in China and ranks among the top globally in low-carbon fatty amine production[40] - The company is focusing on innovation and green sustainable development as part of its strategic goals for the future[79] - The company plans to continue expanding its product lines and market reach, focusing on innovation in chemical products[56] Environmental and Safety Management - The company has implemented comprehensive safety and environmental management measures, ensuring compliance with regulations and enhancing operational efficiency[48] - The company is classified as a key pollutant discharge unit and has reported its environmental protection measures[180] - The company has made significant efforts in environmental protection, including compliance with the "Boiler Air Pollutants Emission Standards"[182] - The company has established a comprehensive management system for quality, environment, and occupational health to improve safety standards[116] Risks and Challenges - The company faces risks from rising environmental protection standards, which may increase operational costs and impact profitability due to higher investments in environmental management[117] - The company is exposed to raw material price fluctuations, particularly linked to global oil prices, which could affect gross margins if product prices do not adjust accordingly[118] - The company has established provisions for bad debts in accordance with accounting policies, but increasing accounts receivable could lead to further liquidity risks[119] Corporate Governance and Compliance - The company has not reported any non-operational fund occupation by controlling shareholders or related parties[7] - The company has provided a risk statement regarding forward-looking statements, emphasizing that future plans do not constitute performance commitments[9] - The company has not encountered any major litigation or arbitration matters during the reporting period[157] Community Engagement and Social Responsibility - The company made a total of 950,000 yuan in various public welfare expenditures in 2020, including 650,000 yuan for pandemic relief donations[179] - The company has actively engaged in community support and environmental initiatives as part of its corporate social responsibility strategy[179]

2020 年第三季度报告 公司代码：603867 公司简称：新化股份 浙江新化化工股份有限公司 2020 年第三季度报告 1 / 27 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 8 | 2020 年第三季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人胡健、主管会计工作负责人洪益琴及会计机构负责人（会计主管人员）洪益琴保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 3 / 27 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度末增 减(%) 总资产 2,487,796,252.70 2,195,478,165.97 13.31 归属于上市公司 股东的净资产 1 ...

Financial Performance - The company's operating revenue for the first half of 2020 was approximately ¥1.07 billion, representing a 13.12% increase compared to ¥945.73 million in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2020 was approximately ¥124 million, a 48.12% increase from ¥83.70 million in the previous year[17]. - The total profit reached 146.60 million yuan, up 38.33% compared to the same period last year[36]. - The basic earnings per share for the first half of 2020 was ¥0.89, up 11.25% from ¥0.80 in the same period last year[18]. - The company reported a significant increase in accounts receivable, which rose by 93.53% to CNY 222.99 million from CNY 115.22 million year-on-year[41]. - The total comprehensive income for the first half of 2020 was CNY 124,553,685.58, compared to CNY 68,866,675 in the same period of 2019, representing an increase of approximately 81%[180]. Cash Flow and Assets - The net cash flow from operating activities decreased by 46.13% to approximately ¥91.72 million, down from ¥170.25 million in the same period last year[17]. - The total assets at the end of the reporting period were approximately ¥2.45 billion, an increase of 11.37% from ¥2.20 billion at the end of the previous year[17]. - The total cash and cash equivalents at the end of the reporting period were CNY 444.15 million, a 30.62% increase from CNY 340.04 million at the end of the previous year[41]. - The company's cash and cash equivalents increased to CNY 444,150,111.90 from CNY 340,038,030.01, reflecting a growth of about 30.6%[147]. - The ending balance of cash and cash equivalents was CNY 322,240,841.93, down from CNY 685,285,263.12 at the end of the first half of 2019[166]. Liabilities and Equity - Total liabilities reached CNY 915,296,103.43, compared to CNY 774,083,008.43 at the end of 2019, representing an increase of approximately 18.3%[149]. - The company's equity attributable to shareholders rose to CNY 1,447,147,565.78 from CNY 1,343,368,224.52, marking an increase of about 7.7%[149]. - The total liabilities at the end of the period were reported at 616,534,960, which is a critical metric for assessing financial health[176]. - The total equity of the company at the end of the first half of 2020 was CNY 1,277,216,000, showing an increase from CNY 1,276,548,000 at the end of 2019[179]. Operational Highlights - The company is engaged in the production and operation of fatty amines, organic solvents, and synthetic fragrances, focusing on innovation and sustainable development[22]. - The sales volume of fatty amines was 51,300 tons, an increase of 10.47% year-on-year[36]. - The sales volume of organic solvents decreased by 21.93% to 38,000 tons, while the sales gross margin increased significantly due to supply shortages[36]. - The company has established long-term stable supply relationships with leading domestic and international enterprises in the agrochemical and pharmaceutical sectors[32]. Research and Development - Research and development expenses increased by 7.44% to CNY 30.37 million, up from CNY 28.27 million year-on-year[39]. - Research and development expenses for the first half of 2020 were ¥30,372,738.24, compared to ¥28,268,533.07 in the same period of 2019, showing an increase of 7.4%[155]. Environmental Compliance - The company is subject to environmental regulations and has reported emissions data, including a CODCr discharge of 7.65 tons and ammonia nitrogen discharge of 1.072 tons[108]. - The company complies with the wastewater discharge standards, with CODCr levels at 148.62 mg/L and ammonia nitrogen at 0.6158 mg/L[108]. - The company has implemented various pollution control facilities, including wastewater and waste gas treatment systems, to meet environmental standards[110]. Shareholder Commitments - Major shareholders have committed to not transferring or managing their shares for 36 months post-IPO, ensuring stability in shareholding[56]. - Shareholders commit to long-term holding of company stock and outline specific reduction methods post-lock-up period, including a maximum of 1% reduction through centralized bidding and 2% through block trading within any consecutive 90 days[83]. Legal and Regulatory Matters - There were no significant non-operating fund occupations or violations of decision-making procedures regarding external guarantees during the reporting period[5]. - The company has not disclosed any new significant related party transactions during the reporting period[91]. - The company has no major litigation or arbitration matters during the reporting period, indicating a stable legal standing[87].

Financial Performance - Operating income fell by 35.10% to CNY 352,579,131.13, down from CNY 543,290,219.75 in the same period last year[5] - Net profit attributable to shareholders decreased by 49.78% to CNY 20,399,880.12, compared to CNY 40,621,707.54 in the previous year[5] - Basic and diluted earnings per share decreased by 61.54% to CNY 0.15 per share[5] - Operating profit fell to CNY 22.79 million, down 60.11% from CNY 57.13 million year-on-year[12] - Net profit decreased by 58.89% to CNY 19.51 million, compared to CNY 47.45 million in the previous year[13] - The company reported a total profit of CNY 29,989,725.08, a decrease of 13.5% from CNY 34,611,079.81 in Q1 2019[28] Cash Flow - Cash flow from operating activities showed a significant decline of 242.81%, resulting in a net cash outflow of CNY 35,068,302.86[5] - Cash flow from operating activities showed a net outflow of CNY 35.07 million, a decline of 242.81% from a net inflow of CNY 24.56 million in the same period last year[13] - The company reported a cash inflow from operating activities of ¥266,442,677.98 in Q1 2020, down 36.9% from ¥422,185,359.24 in Q1 2019[30] - Net cash flow from operating activities was -CNY 43,192,905.88 in Q1 2020, compared to -CNY 36,389,222.42 in Q1 2019, indicating a worsening performance year-over-year[33] - The company reported a net cash decrease of CNY 58,892,013.13 in Q1 2020, compared to a decrease of CNY 62,231,940.64 in Q1 2019, indicating a slight improvement in cash management[34] Assets and Liabilities - Total assets decreased by 1.13% to CNY 2,170,599,801.91 compared to the end of the previous year[5] - Accounts receivable increased by 45.38% to CNY 167,507,914.36 due to reduced sales collections impacted by the pandemic[11] - Other non-current assets rose by 52.62% to CNY 28,549,331.81, primarily due to increased prepayments for equipment purchases[11] - Total liabilities reached CNY 774,083,008.43, with current liabilities at CNY 693,672,558.79 and non-current liabilities at CNY 80,410,449.64[37] - The company’s total liabilities to total assets ratio stands at approximately 35.3%[37] Shareholder Information - The number of shareholders reached 14,054, with the largest shareholder holding 17.22% of the shares[9] - Total equity reached approximately 1.28 billion, indicating strong financial health[41] - Unallocated profits amounted to approximately 556.8 million, reflecting retained earnings[41] Government Support and Subsidies - The company received government subsidies amounting to CNY 2,810,591.99, which are closely related to its normal business operations[8] Taxation - Tax expenses decreased by 74.76% to CNY 2.40 million, primarily due to the recognition of deferred tax assets[13] - The company experienced a 250.79% increase in payable taxes, rising to CNY 5.96 million, attributed to reduced deductions for fixed asset investments[12] - The company reported a tax expense of ¥3,739,538.44 for Q1 2020, down from ¥4,414,715.51 in Q1 2019, reflecting a decrease of 15.3%[28] Investment and Expenses - The company reported a significant reduction in financial expenses, down 87.08% to CNY 764,229 from CNY 5.91 million year-on-year[12] - Research and development expenses for Q1 2020 were ¥7,527,218.81, a decrease of 26.5% compared to ¥10,237,389.70 in Q1 2019[28] - The company experienced a decrease in sales expenses, which were ¥10,576,740.76 in Q1 2020, down from ¥13,729,266.93 in Q1 2019, indicating a reduction of 22.5%[28]